EX-12 4 a17-21131_1ex12.htm EX-12

EXHIBIT 12

 

COMPUTATION OF RATIO OF INCOME FROM

CONTINUING OPERATIONS TO FIXED CHARGES

FOR NINE MONTHS ENDED SEPTEMBER 30,

(UNAUDITED)

 

(Dollars in millions)

 

2017

 

2016

 

Income from continuing operations before income taxes (1)

 

$

6,936

 

$

7,348

 

 

 

 

 

 

 

Add: fixed charges, excluding capitalized interest

 

1,301

 

1,241

 

 

 

 

 

 

 

Income as adjusted before income taxes

 

$

8,236

 

$

8,589

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

Interest expense

 

$

947

 

$

904

 

Capitalized interest

 

(1

)

3

 

Portion of rental expense representative of interest

 

354

 

337

 

 

 

 

 

 

 

Total fixed charges

 

$

1,300

 

$

1,244

 

 

 

 

 

 

 

Ratio of income from continuing operations to fixed charges

 

6.34

 

6.90

 

 

(1)    Income from continuing operations before income taxes excludes (a) amortization of capitalized interest, and (b) the company’s share in the income and losses of less-than-fifty percent-owned affiliates.